70% of all goods and consumer durables to become cheaper under GST

Tuesday, April 11, 2017, 11:27 AM

A number of goods such as cosmetics, shaving creams, shampoo, toothpaste, soap, plastics, paints and some consumer durables could become cheaper under the proposed goods and services tax regime as most items are likely to be subject to the rate of 18% rather than the higher one of 28%. India is likely to rely on the effective tax rate currently applicable on a commodity.